Gaia-X: A Federated Data Infrastructure for Europe

You know what, I heard of Gaia-X since over a year. I've read many landing pages. I don't get it. I live in Germany, have a PhD degree in computer and natural science, I regularly write funding applications and reports for public money, but I just don't get it.

This is really not supposed to be a rant, but in my ears, Gaia-X sounds as a gigantic washing machine of bullshit bingo words. Can somebody explain this project in simple terms? Why do we need another public cloud? What can it do what other open source networks cannot do?